Category: compliance

Explore the RegTech Revolution

Will KYT drive technology innovation in banking compliance?

From KYC to KYT: the need to “know your transaction” Know your customer (KYC) forms the bedrock of financial crimes compliance, from customer identification and acceptance to monitoring customers’ transactions against their recorded profile, expected behaviour and peer group behaviour. So understandably, customer profile creation and risk classification become the starting point of banking compliance.…
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15th May 2019 0

What is Sustainable Finance and how will impact the EU’s new rules impact financial services?

What is sustainable finance and what are the consequences for the existing or future governance framework of financial institutions? While the EU’s fight against climate change through changes to the regulatory structure is in full swing, the financial services industry is only at the beginning of the paradigm shift that will change the way it…
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10th May 2019 0

How Regulated Industries Can Put Their Compliance On Autopilot

Corporate compliance is a hot topic these days. From the General Data Protection Regulation (GDPR)’s the big introduction in the EU last year to the daily headlines about data breaches, we’re constantly reminded of the impact and costs of noncompliance. For example, in 2017, Nissan Co. lost its ISO 9001 certificates on quality management for domestic…
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7th May 2019 0

Why Fintech Should Embrace The Fourth Industrial Revolution

A recent report from the World Economic Forum highlighted why financial services should welcome what has been dubbed the “fourth industrial revolution” after the impact it has had on a range of sectors such as healthcare, retail and agriculture. With the development of digital technology, automation and personalization have been put on a pedestal in…
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1st May 2019 0

MiFID II Compliance and Transaction Reporting Reviews Featured in FCA 2019/20 Business Plan

The FCA has published its 2019/20 Business Plan. The document features the regulator’s focus of supervisory priorities for this year and next. Included are eight priorities across the seven sectors that the FCA regulates. Not surprising, MiFID II compliance and review of data was included in areas the FCA will be focusing on. Specifically, the…
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26th April 2019 0

Four Major Trends For Compliance Professionals In 2019

Accenture recently issued its annual Compliance Risk Study to gain insight into the different strategies that firms are pursuing to create compliance functions that meet the demands of a rapidly changing financial services industry. Facing regulatory pressure and seeking to regain customers’ trust, financial institutions have spent heavily on compliance in the ten-plus years since…
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23rd April 2019 0

Cappitech launches new tool to support MiFID II compliance

Regulatory reporting and intelligence solution developer Cappitech has released its new RTS 28 Market Intelligence solution. The new service gives financial institutions the power to leverage compliance data with electronic surveillance and analytics tools to assess its best execution capabilities in all asset classes and benchmarks performance to the industry average. MiFID II reporting standard…
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16th April 2019 0

Regtech firms look to help shoulder compliance demands

As regulators globally continue to demand that firms strengthen their risk management systems, regtech entrepreneurs see technology as the answer to rising compliance costs and an opportunity to boost trust with clients. Regulated entities support their ambitions, but the slow pace of adoption is a concern. The global wave of regulation is expected to continue…
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15th April 2019 0

CoCoNet revolutionises corporate banking online security with its new MULTIVERSA Token for Mobile and Desktop

Banks have the opportunity to make huge cost savings on their corporate customer authentication services for online banking, thanks to CoCoNet’s new MULTIVERSA Token for Mobile and Desktop. These revolutionary app-based tokens remove any need for banks’ corporate customers to use additional authentication tools when logging in to their online banking platforms. Instead, corporate customers…
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8th April 2019 0

How blockchain is becoming the 5G of the payment industry

New blockchain-based financial networks like the one launched by IBM last week will enable faster and more transparent cross-border payments and eventually become the platform for retail and other consumer transactions. As more blockchain-based payment networks and fiat-backed digital currencies – including one from the largest U.S. bank – emerge, experts and analysts are predicting…
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5th April 2019 0